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<br /> ' ' in1U�� LOAN N0. 1 s a 4 z t s 3 s� -
<br /> 1.Payment of P�inclpal,IMarut��l�t�Ch�r�s. Ba►rowor shall pay whan due the princlpal�f,anti Interest on, , �
<br /> � tha dAbt evidanced by the Ncte and late charges due uncler tho Note.
<br /> : ..6tM::hl�P�yme�ts ot 7'�xea�InwrAnce,��xi thtfi��Gt��y�oa. Ba�rowor&hall Include In each montMy
<br /> paymant,ta�flthcr wkh the p�ncl�al end Interest as set fath in the Note�r�d any late char�es,a sum icu(a)taxes a�xl
<br /> j spA.^.ial aasa�sm�nts levied cx to ba levlad a�alns3 the P�oparty, (b)leasehoid payments or Qraund rents on the
<br /> Pro�►rt}r.and(rlluemlums lo�Insu�an�e�equired under Pareqraph�.In any ya&r tn whlch tha l.endar must pay a
<br /> martqapA lnsuranGa pramlum to tha Secretary o�Housing and llrban Deveiopment("Secretary'),cx�n any year tn wh�h
<br /> � such premlum wotdd hava bgon raqulreri ff lender stiU held the Security Instrument,each monthty payn�e�i shall also
<br /> tnclude either.(i)a sum tor et�o annual mortgaqe Insurance preenlum to be pakl by Lender to the Secrn�ary,a(U)a
<br /> �a:�ihly:.:s:,rg�insicMd of tz matgage►nsurance premlum�thia Socurfty Inst►umQnt is hetd by the Secr�tary,i�a `
<br /> reasonaWe amount to be deierminad by the Secretary. Except for the monttay charq�by the Sec:rnuay,t�asa ham:.
<br /> are c.�ilec!"Escrow ltema"end the sums pa{d to Lender are callc�d'Escrow Funds.'
<br /> lender may,at any time,cdtect arxl hdd amounts for Escrow Itenu In an agflregate amaunt nae to oxceed tha
<br /> maxlmum amouni that ma)�be requi�ed tor Borrowar's escraw accaunt under the Roal Estato Settlement Procedures
<br /> Ac4 of 1974,12 U.S.CS 2o�t ei seq•and Imptementing�egulations,24 CFR Part 3500,as they may be amended frar
<br /> time to tim�('R�SPA"),except that tha cushlan or reserve�,errnitted by RESPA tor unanticipated disbursemants ar �
<br /> dlsbur�..emflntti t�etore the Bo�ower's paymeNe a�e avaUablo In the account may not be based on amaunts due for the ��.�;`y'
<br /> ei,�.__
<br /> � mpr4gapo tnsur�nce premlum. ___
<br /> � If the amounts held by Lerxier for Escraw Items excaed the amounts permitted to be held by pESPA,Lender shall _
<br /> , � dt�at wKh the excess funds as�equl�ed by RESPA. If the amounta ot funds held hy Lender at any tlme are not sufficlent E�S�_�.
<br /> ; :� to�pay the Escraw Items when due,Lender may notifyl the Borcowe�and requiro Bonower to mulce up the shortage or ���_-
<br /> deficlency as permitted by RESPA.
<br /> The Escrew Funds are pledged as additional security tor all sums secured by this Securiry Insttument. If Borrowe� �w.�'
<br /> � tende�s to Lender the full payment of all such sums,BoROwor's account shall be credked wfth the balance remaUing �:;;_
<br /> tor ail Instaliment ftems(a),(b),and(c)and any mortgage insurance premium fnstaliment that Lender has not become
<br /> obligated to pay to the Secretary,and Lender shail prompUy reiurxi any e�tcess funds to Batrawer. Immedtately prior to �.,_
<br />. �. � a foreclosure sale ot the Property or as ac uis�lon by L.ender,Borrower's account shaU be c�edlted wiihh any ba�ance ";-_
<br /> d remaining for ail instaliments for fiems(a).�b),and(c). `� `
<br /> ;- � 3.A p Plicatlon of Pa ymenu. AU payments under Parag►aphs t and 2 sha►16e applied by Lender as fNlows: �'�°-
<br /> F I S T•t o t h e m o rt g a g e insurance premium to be p aid by Lender to the Secretary or to t h e m o�h�y c h a�ge b y t h e _
<br />� Se�:retary instead of the monthly mortgage insu�ancepremium; .
<br />"i� SECOND,to any taxes,special assessmer►ts.IeaseOiold payments or growxi rents,a�d flre,flood and other hazard
<br />`�' fnsurance przr�ic�ms,89 fG�UIf6f�:
<br /> �. �Q,tc�*xe�est due under the Note; '"
<br />. . � FpURTH,to amortization of the principal of th�Note; --
<br /> ��,to late char4es due u n der the Note. -..�
<br /> � ,q,Fire�F�pod ar�d Other Haurd Insunnce. Borrowe�shall insure all im�xovements on the Property,whether ��_
<br /> now tn existence or sut�seQuenUy e�ected,against any hazards,casuaities,arrd contingencles,Inciuding 8re,tor which �_--
<br /> � Lender requires insu��a:x�.This insurance shall be malntalned U the amour�and for the petiods that t���et requkes. -�---_
<br /> � I Borrower shall also lnswa a1f improvements on the Prapetty,whether now t�existence or subseque�tiy erected. �
<br /> ` against loss l�y ftoods 4otha extent rec{uired by the Secretary.All Insurance st�all be carrfed wkh companles approved _���_'___
<br /> j by lender.The tnsurance Qalicies an�any renewais shall be held by Lender�-tid shall lnclude loss paYakle dauses(n
<br /> ,�_.---
<br /> � ta��,or of,and in a form acex�table to,Lender. ��_�
<br /> In the event of loss,6orrowe�shall gi�^e L.encBer immediate notice by m�,fuender may make prooE of Oc�ss ff not a_--
<br /> y � i �,� �..�v Re►qrwx.+r Fs�h t�.G�rance can�pany eoncemed is hereb�a�.'ihorized$nd ditected tQ e�aake payment �;:,�`.
<br /> sr�...da ^^sr. , , --• --•--•
<br /> � � for such loss direc�y to LerxJer,instea..�ta Berrower and to Lender loir�iy.AI1 or any paR ot the insurance proceecs v_
<br /> may be applied by Lender,at fts opiia�,eiiher(a)to the reductlon of the indebtedness under the Note and this Sectuity ___
<br /> : ,� Instniment,flrst to any dei9nquent amounts apalad in the order In Paragraph 3,and then to prepayment of principai,a' LL�: �
<br /> ' (b)to the restoration or re�air of the damaged property.Any apolcatbn af the proceeds to the principat shatl not ,
<br /> :•� extend or postpone the due date of the monttuy pa�snents whlch are refeRed to in Paragraph 2.or chan�ie the amount �;i;���-
<br />' ; � of such paymer�iss.My excess insurance proceeds over a�amou�t requiret�to pay ap otttstandln9 tndebtedness under
<br /> : � � the Note and this Secu�lty Instrumeat sha3i be paid to the entit�1legalty enttdad thereto. ---
<br /> In the ever►t o�foredosure of this Secu�ity Irsstrument or e�ther transfer of title to the P�operty that extingulshes the
<br /> ; Indebtedness.all riflht,title and interest of Borrowet in and ia insurance pol+�ies in torce shall pass to the purchaser. _
<br /> � 5.Occupancy�Prossrvation.11AaiMsnancs and Protect7on ot the Pro�tyi Barow�r's Lotn Applicatlon; _--
<br /> Leasehold�. Banower shall occupy.estabtish.and u$e the Rroperty as Bcxrower's princlpal resfdenc�wiihin sbdy days
<br /> �# after the executbn of this Security Instrument and shall co�tnue to cxupy 4he Property as Borrower's pxincipal _
<br /> r�. resldence for at least one year after the date of occupancy,�n�ess the Secretary detertnmes this requirement will cause ,
<br />, � � undue hardship for Borrower,or unless extenuating circums�nc�s exist which are beyorxi BoROwer's coMrd.BoROwer o_
<br /> shall notiiy Lenders of any exienuatiru,�circumstances.Borrower shai1 not canmtt waste w destroy,damase or e:-
<br /> � ' substantialty change the Property o�allow the Properry to deteriorate,reasar�able wear and tear exc�pted.Lender may --;-
<br />� , � fnspect the P�operry if the PropeRy is vacant or abandoned or the loan Is in default.Lender may take reasoriable actlon �'_,'�,
<br /> to protect and preserve such vacant or abandened Property:Borrower sha11 also be in d�auft if Borr�ower�dwin9 the - ..
<br /> � � loan application process,gave materiaily false or inaccurate Mfomiation or statements to Lender(or faAed to provicfe
<br /> Lender with any mate r i a l in forma t i o n)U con n e c tbn with the loan evidenced b y the Note.irxiudin�,but not��mfted to, ��,;
<br /> , . representatbns concemt�g Borrower's occupar�c}`of the Property as a p�incipal res1dence.If this Security Insirument is �jr
<br /> k �
<br /> on a leasehotd,Borrower shall comply with the�rc;nslons of tho lease.If Barrowe�acquires fee title to the Property,the �'=.
<br /> � leasehdd and fee title shall not be merged uNess Lender agrees to the merger in writing. ��
<br /> � 6.Chs�a�to Borrower�nt!Protectlon ot Lender's Righb in ths Propwty. Borrower sitial!Pay all goven'mental
<br />, � or muMclpal charges,flnes and(mpositbns that are not Inclucled in Paragraph 2.Borrawer shall pay these obi�gatrons
<br /> � on time directly to the eniity virhich is owed the payment.if failure to pay would adverset�q affect Lender's Uterest iri the �
<br /> - Pro�erty,upon LerkiEr's request Burrowar sls�:[�remptly fumish to Lender receipts evidencir�g these Qaymenis• �-,_
<br /> � If Borrower faAs to make these paymer�is o�tne�ayn�erds ieyuired by r aragrapl�2. os f��s ta Fe:�f�m any other
<br /> .. , covenaMs and agreements coMatned ir►this Security�tn�nlrnent.or there is a legal proc�edinfl tha�may slgnfficanUy -
<br /> • affeci Lender's rights tn the Properry(s�tch as a proceed►�g irs bankruptcy,for condemnatbn ar to entorce I�ws or
<br /> 3he Pro arx9 Lende�'s ��-
<br /> , regutaiions�,then Lender may do and pay wfiate�er is necessaeY to protect the value nf perty -
<br /> � rlghts in the l°roperty,including paymerii of taxes,hazard insurance and other fterns mentbned U Paragraph 2. "��
<br /> Any amounis d�sbursed by Lender�nder this Faragraph shail become an additional debt of Bartr�wer and be ���__.
<br /> secured bythis Sec�rity Insirument.These arr�unis shall bear interest from the date of disbursement,ai the Note rate, Y=
<br /> � � and at the aption of Lender,shal!be immediaie�y�ue and payable. ���
<br /> 7.Condemeatlon. The proceeus o#any award or claim for damages,direct or co�eq uential,in connecticxs with o
<br /> any condemnatbn or other taking c�arsy part of 4he Property.or for corneyance in place of condemnaiion,are hereby
<br /> asstgned and shall be paid to Lender to the exter�of the full amount of the i�debtedness that remains unpaid c:rx:er the
<br /> Note and this Security Instrument.Lender shafi apply such proceeds to the reducibn oi the indebted�ander tiie
<br /> Note and this Securiry Instniment,first to any delinquent amouMs applied in the order provided fn Poragraph 3,and
<br />. then to prepayment of princlpal.My applicatton of the proceeds to the princtpal shall not extend or postpone the due
<br /> � FHA NEBRASKA OEED OF TRUST 5��
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